Illegal Practices
Perils of Government Regulation
Miscellaneous Information
100
Price-fixing is...
Competitors agree on a price for goods and services
100
When the government over-regulates, costs become a ______
What is a hidden tax
100
The two main agencies are:
Anti-Trust Division of the Justice Department and Federal Trade Commission
200
What does price fixing accomplish
It prevents competitors from competing on identical products using price
200
Regulation has benefited society with these 3 examples (found in the notes)
1) Cleaner water 2) Cleaner air 3) Safer workplaces
200
what is an example of an externality
What is immunizations
300
When competitors for government contracts agree in advance as to who will win its referred to as....
Bid Rigging
300
Who does the government hire to regulate their industry?
People who have already worked in the government
300
what is an example of a negative externality
What is second hand smoke
400
Competitors agreeing to divide amongst themselves is called...
Market Division
400
The result of hiring those who have worked for the government before is regulators acting -
Regulators acting in a way that is in the best interest of existing businesses and not the public at large
500
When the competitors are not actually competing against each other, the prices will...
The prices will be higher for consumers
500
WHAT DOES THE FOX SAY?
RING DING DING DING DINGERINGERDING!
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